Technology giant IBM (NYSE: IBM) on Monday released its first quarterly report under new CEO Arvind Krishna, at a time when the industry is passing through an era of unprecedented turmoil.
In the first quarter of 2020, adjusted earnings dropped to $1.84 per share from $2.25 per share in the corresponding period of last year, but topped the estimates. The unimpressive bottom-line performance reflects a 3% decline in revenues to $17.6 billion.
IBM’s stock has been on the recovery path since mid-March, after being battered by the market selloff spurred by the COVID-19 outbreak. The shares, which lost about 11% since the beginning of the year, closed Monday’s regular session higher. However, they slipped into the negative territory during the after-hours following the earnings announcement.
Shares of Lyft Inc. (NASDAQ: LYFT) were up 8% in afternoon hours on Wednesday. The stock has gained 53% over the past 12 months and 25% since the beginning of
Department store chain Target Corp. (NYSE: TGT), which has been thriving on the pandemic-driven shopping boom since early last year, maintained its strong performance during the holiday season and entered
Dollar Tree (NYSE: DLTR) reported fourth-quarter financial results before the opening bell on Wednesday. The discount store reported a 7% increase in Q4 net sales to $6.7 billion. The company